2005.11.21 EDA Packet - Laserfiche WebLink

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agreed to have the joint EDA/Council workshop on Monday, November 21, 2005, at 8:30 am, at the EDA's next regularly scheduled meeting. 5. UPDATE ON TWIN CITIES COMMUNITY CAPITAL FUND PROGRAM At the September 19, 2005,joint EDA/Council meeting Scott Martin from the Twin Cites Community Capital Fund (TCCCF) gave a presentation about the organization and the benefits members receive from participating in the fund to the EDA and Council. The TCCCF is a nonprofit economic development loan fund. Communities that join the fund are eligible for low interest loans, gap financing, and other financial incentives. The EDA and Council thanked Scott Martin for coming to the meeting and suggested that the EDA and the Council evaluate the materials and make a recommendation at the next EDA meeting on whether or not to participate in the program. Springsted,the City's financial advising firm, has prepared some background information on the fund. The EDA discussed whether or not the City should consider becoming a member of the TCCCF at this time. Arcand, Klein, and Bever agreed to table the item until the next regularly scheduled EDA meeting. 6. UPDATE ON "END ZONE PROPERTY" Terry Montpetit has entered into a contract to purchase the former `End Zone Property' located at 13891 Forest Blvd. He intends to remodel the existing building and open a restaurant/bar. The Staff gave an update to the EDA on the recent discussions with Terry Montpetit. 7. OPENING FOR HUGO RESIDENTS TO SERVE ON HRA BOARD IN 2006 Washington County Commissioner Dennis Hegberg requested that a public announcement be made that there will be a vacancy on the Washington County Housing and Redevelopment Authority Board in 2006. Any resident interested in serving on the Board, with the exception of Council members, should contact Washington County Commissioner Dennis Hegberg or the City of Hugo for an application. City Staff informed the EDA of the vacancy on the HRA Board. 8. ACCEPT RESIGNATION FROM EDA MEMBER THERESA CHARPENTIER At its September 19, 2005 meeting, the EDA discussed the request from Commissioner Theresa Charpentier to seek a replacement for her on the TIF Subcommittee due to a change in her work schedule. The EDA accepted her resignation and the City Council committee voted unanimously to select and appoint Phil Klein as her replacement. Since that time, staff has had the opportunity to discuss with Theresa her future on the EDA. Theresa has submitted a letter of resignation to the City for her service on the EDA, citing a change in her work schedule, which does not allow her the flexibility to attend regular meetings. City staff informed the EDA that at the next City Council meeting the staff will recommend Council accept the resignation of Theresa Charpentier from the EDA and publicly thank her for her service to the City of Hugo. City staff will further recommend